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How to calculate pf, esi, vat, sales tax etc.,
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Answer Posted / murali
A. PF Employee Contribution 12% of salary
B. Employer's Contribution
PF 3.67% of salary
Pension ( Max salary limit Rs. 6500) 8.335% of salary
Admin. Charges for EPF ( A/c No-2) 1.10% of PF wages
EDLI ( A/c No-21) 0.50% of pension wages
Admin Charges for EDLI ( A/c No 22) 0.01% of pension wagees
Salary- Basic plus DA
There is limit of rs. 6500 for calculation pension contribution i.e it can be maximum Rs. 541) suppose salary of A is Rs. 100000. In this case employee contribution will be Rs. 1200 ( 12% of rs. 10000), Employeres contribution to pension will be Rs. Rs. 541 ( Rs 6500* 8.33% and balance Rs. 659 ( 1200-541) is employers contribution to PF.
Other may reply on ESI and gratuity.
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Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
